Comments for October 9, 2009

New contract high for Gold; and the Currencies are all Uptrends (except for the British Pound).

METALS: 10/09/09 Higher to sharply higher closes on Thursday for copper, gold, silver and platinum. All of the metals are still in up-trends with copper's sharp rally ending my sell signal but still is in a strong resistance area and can be sold up here if you are bearish Gold made a new CONTRACT HIGH AND CLOSE while silver made new recent high and close which pretty much tells the story. Platinum joined the rest of the metals with another strong settlement needing to close over 13500 again basis the January contract but still bullish overall.

CURRENCIES: 10/09/09 Higher closes yesterday for the euro Fx, Swiss franc, Japanese yen and Canadian dollar while lower for the British pound, Aussie dollar and dollar index. All of the currencies still are in uptrends with the exception of the pound and there are also weak(at this time) potential topping formations in the euro and franc with support under 144000 for the former and 9500 for the latter. The yen made a new recent high and close since January while the Canadian dollar settled lower but is in a strong uptrend after busting out of a trading range between 9000 and 9400 dating back to July on Tuesday. The pound closed slightly higher but still is in a BEAR TRIANGLE. The Aussie dollar made its highest high againsince '08 but ending up settling slightly lower still very bullish overall. The dollar closed higher but barely 'hanging on' above its contract low.

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